Baker Hughes total rig count rises by +3 to 551

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The weekly Baker Hughes rig count data for the week shows total rigs increased 3 to 551. Compared to a year ago, that number is down 25. Lower rig count does not necessarily mean lower oil extraction.

The price of crude oil this week is up 6.10% or $5.77 for the July contract.

This article was written by Greg Michalowski at investinglive.com.

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